Mortgage Brain has launched a new online secured loan sourcing and application system, through a strategic partnership with insurance and secured loan sourcing system specialists, Source Software.

The Secured Loan Trading Exchange offers a complete solution for mortgage intermediaries can source, compare, illustratem, quote and apply online for a secured loan from over 17 lenders, with support from four specialist secured loan packagers.

The SLTE will enable users to answer a few questions in order to instantly receive a choice of loans and provide their customers with compliant Key Fact Illustrations – including monthly costs, APRs and total amounts payable.

Source Software managing director Malcolm Guest says: "Like Mortgage Brain, we want to make it easier for intermediaries to access secured loans, and be able to treat their customers fairly by sourcing from a range of lenders.

Mortgage Brain chief executive Mark Lofthouse says: "The secured loans industry provides a vital service for thousands of clients using their property equity to consolidate debt, make home improvements and purchase goods in a cost effective way.

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